Cuba: Radar Apparatus Market 2024

Radar Apparatus Market Size in Cuba

The Cuban radar apparatus market surged to $X in 2022, picking up by 219% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a strong increase. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Radar Apparatus Exports

Exports from Cuba

In 2022, overseas shipments of radar apparatus, radio navigational aid apparatus and radio remote control apparatus increased by 134% to X units for the first time since 2015, thus ending a six-year declining trend. Over the period under review, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by 1,040%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, radar apparatus exports surged to $X in 2022. Overall, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2013 when exports increased by 679% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X units), Russia (X units) and Ukraine (X units) were the main destinations of radar apparatus exports from Cuba, together comprising 37% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +19.2%), while the other leaders experienced mixed trend patterns.

In value terms, Ukraine ($X) remains the key foreign market for radar apparatus, radio navigational aid apparatus and radio remote control apparatus exports from Cuba, comprising 56% of total exports. The second position in the ranking was held by Spain ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ukraine amounted to +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+11.4% per year) and Russia (-42.1% per year).

Export Prices by Country

The average radar apparatus export price stood at $X per unit in 2022, reducing by -19.5% against the previous year. Over the period under review, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 95% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+2.7%), while the prices for the other major destinations experienced a decline.

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Radar Apparatus Imports

Imports into Cuba

In 2022, approx. X units of radar apparatus, radio navigational aid apparatus and radio remote control apparatus were imported into Cuba; increasing by 218% compared with the previous year's figure. Over the period under review, imports posted resilient growth. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, radar apparatus imports soared to $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 500% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Norway (X units), Spain (X units) and Russia (X units) were the main suppliers of radar apparatus imports to Cuba, with a combined 62% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +78.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of radar apparatus, radio navigational aid apparatus and radio remote control apparatus to Cuba, comprising 31% of total imports. The second position in the ranking was taken by Russia ($X), with a 15% share of total imports. It was followed by Panama, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+21.6% per year) and Panama (+22.3% per year).

Import Prices by Country

In 2022, the average radar apparatus import price amounted to $X per unit, almost unchanged from the previous year. In general, the import price posted a noticeable increase. The most prominent rate of growth was recorded in 2013 an increase of 137% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Panama ($X per unit), while the price for Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+47.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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